If you are trading in the EURO session or USD session, it would sure be nice to have a Forex session indicator. Using such technical instruments, you will be able to isolate those crucial sessions and get a clear picture of what is transpiring at the time of your trades. Well, the good news is, there are many such session technical tools which you can download and install it into your MT4 trading account.
Here’s a post which will state some really useful tools which you can easily work with during live trading.
1. Market Session Indicator 2.0.0:
Its name is self-explanatory, and its primary function is to highlight the trading time/session you want to see more clearly. Consisting of ample customization options, you can set it to US/London/Tokyo session. You can also use it to read into overlapping sessions such as US and London sessions, which brings many lucrative prospects.
This session indicator uses different colors to denote various trading times. It also considers overlapping sessions and uses a completely different color shade to make it distinct from the rest. It can also be put to use in various time frame charts.
Some fresh upgrades for more trading conveniences:
This version of Forex session indicator is an upgrade of the previous indicator and does come with a host of new and intriguing features.
• With the opening price of a session, it also displays standard pivot point. As a default, this feature is off. But if you want, you can turn it on using its setting.
• In the previous version, traders had to enter -1 for the sessions they didn’t want to show on their charts. However, this 2.0.0 version along with its single input option also consists of true and false drop down option for witnessing the sessions you want to.
And if traders didn’t want to see a particular session, they can change the session time using options present at the bottom.
2. Forex Market Session Indicator:
In lieu of the above one, this is another very good sessions indicator compatible to MT4, which its users can make use of. This specific indicator works on 4 primary trading sessions. Those include Sydney, Tokyo, New York and London.
When you are working with this Forex sessions indicator, you will find in your chart narrow range showing at the time of Sydney and Tokyo sessions. But as the London and US session starts, you will come across more powerful movements coming up. Every single session showcases in different color lines.
• Sydney session- follow the Blue line
• London trade time- Green line
• US session- Red line
• Tokyo trade time- Yellow line.
Simple enough? You bet it is! And that is why so many downloads are done regarding it.
Try it out:
It is very important to know the sessions which bring in the most profitable opportunities. And using a Forex session indicator, it safe to say, that you will be able to do that with utmost ease! Download its extension now and test it out with a demo trading account. Not only will it help you understand this tool, but will make it clear which one among the two is better suitable for your trading style.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.